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Released November 28, 2023 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
Industry Group: Canadian Producers to Drill More Wells in 2024 - Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open, an industry group said in an annual forecast on Friday. Producers will drill 6,229 wells next year, up 481 from 2023, the Canadian Association of Energy Contractors predicted. Most of the increased drilling will likely happen in the second half of 2024, as the industry rebounds from a softer market in the recent third quarter, the association said. (Reuters)
LNG
Shell's Prelude LNG Facility Expected to Resume Exports Next Month - Shell plc (NYSE:SHEL) (London, England) has almost finished extensive maintenance at its Prelude liquefied natural gas (LNG) facility off Australia and is set to resume exports next month, according to industry sources and shipping data. The timing of the floating facility's return to operations is likely to coincide with peak consumption in major markets, including China and Europe, as winter in the northern hemisphere drives demand, although high inventories have limited buying so far this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the Prelude plant profile. (Reuters)
POWER
BP Enters Japan's Retail Power Market - BP (NYSE:BP) (London, England) said on Monday it has entered Japan's power market after receiving approval from the industry ministry to operate as a retail electricity provider. BP Energy Japan, part of BP's trading and shipping division, will operate the new business, according to the statement. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
PRODUCTION
Industry Group: Canadian Producers to Drill More Wells in 2024 - Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open, an industry group said in an annual forecast on Friday. Producers will drill 6,229 wells next year, up 481 from 2023, the Canadian Association of Energy Contractors predicted. Most of the increased drilling will likely happen in the second half of 2024, as the industry rebounds from a softer market in the recent third quarter, the association said. (Reuters)
LNG
Shell's Prelude LNG Facility Expected to Resume Exports Next Month - Shell plc (NYSE:SHEL) (London, England) has almost finished extensive maintenance at its Prelude liquefied natural gas (LNG) facility off Australia and is set to resume exports next month, according to industry sources and shipping data. The timing of the floating facility's return to operations is likely to coincide with peak consumption in major markets, including China and Europe, as winter in the northern hemisphere drives demand, although high inventories have limited buying so far this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the Prelude plant profile. (Reuters)
POWER
BP Enters Japan's Retail Power Market - BP (NYSE:BP) (London, England) said on Monday it has entered Japan's power market after receiving approval from the industry ministry to operate as a retail electricity provider. BP Energy Japan, part of BP's trading and shipping division, will operate the new business, according to the statement. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
